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I'm no expert, but I did some simple things that I read about in different places on the forums.. I made a simple mission for each map and compared my fps. Here's what I found..

UnMod, Cleanup & Repair
Before the 2.5 Update I uninstalled all of my mods. After the update I ran the game a little, and then exited. I then ran "..\bin\dcs_updater.exe cleanup" from a command prompt in the game folder. Then I also ran "..\bin\dcs_updater.exe repair" the same way.

New Options.lua
I renamed my "Saved Games/DCS/Congfig/options.lua" to a backup and ran the game to create a new options.lua. Then I compared the two files with the Notepad++ Compare Plugin. There were new settings in the new 2.5 options.lua, so I wanted to keep that one. Looking through the compared old file I copied over some of the settings just to keep much of what I had before.

AntiAliasing:
Several options are listed below. Try them out and pick what looks and works best for your system.

AA: Set Game's MSAA & Deferred Shading for best quality.
This option does not give good Frame Rates but probably has the best quality. If you have a great system that can handle this with good fps go for it.

.

AA: Set Game's MSAA, with MFAA on your Video Card together.
This is another option for better FPS+. MFAA + MSAA?

I read a post that said to use DCS MSAA with your card's MFAA (Multi-Frame AA) at the same time. I found the graphics 'good' and acceptable and it added about 13-15 FPS+. So, compare the angular jaggies between the two options and see if you like the slightly lower quality to get the FPS increase. Set it up like this:

I 'think' you are supposed to set them both the same (2x, 4x, 8x). I tried all three and found that 2x gave the best FPS boost. My results were:

Caucasus: x2=~77 fps

Caucasus: x4=~63 fps

Caucasus: x8=~60 fps.

.

AA: ** Set Game's MSAA, with FXAA on your Video Card together.
But for the best balance of FPS and acceptable AA try this. I've gone back and forth on this because at first I was told that this didn't work because my screenshots had no AA. And since I use Screenshots to zoom in and examine the AA quality I thought they were correct.

But Piston85 noticed that the AA that was missing in the screenshots was actually working fine in the game. Since FXAA is a Post Processing AA filter it does not show up on the Screenshots.

So, this option added ~30 fps over the game's Stock MSAA 8x of 65 fps, and gave acceptable AA, and crappy Screenshots.

Caucasus: MSAA x2 + nVidia FXAA = ~97 fps

I tested this with the nVidia AA - Mode = Application-Controlled, and also Enhance the Application. Both gave the same results.

Here's an example of the Game FXAA vs the Screenshot. I paused the game and took a screenshot, then put the screenshot up over the game to compare. Here's the photo I took with my phone. You can see that the game looks good and the Screenshot has no AA!

ReBuild Shader Cache
But I was still getting better FPS in NTTR 2.2, so I read that you should delete you Shader cache? I never heard that before, but I renamed my "..\Saved Games\DCS\metaShaders" folder as a backup and ran the game again. I loaded a mission for each map to build the Shaders again. And ran my nVidia AA testes again.

Not only did rebuilding the Shader Cache improve my FPS. But the game looks much more like Wags videos. I wish I had taken pics of the forests before. I had those lime green forests that some people have posted. And it did not look like Wags videos.

ReBuild FXO Cache
I also read that you should delete you FXO folder? I never heard that before either, so I am learning a bunch of new stuff. So, I renamed my "..\Saved Games\DCS\fxo" folder as a backup and ran the game again. Running each map rebuilds the entire fxo folder. And you can delete your backups when you're satisfied things are working.

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Also, turn off your Mirrors on the Options/Gameplay tab! That just makes them 'Off' by default in the cockpit. You can turn them on with the M key, and they eat 10+ fps!

I think this is some basic stuff that should have been posted with the download instructions.

I don't think my game settings matter that much. There are other guides for tweaking that. And this should just be a basic starting point to improve your graphics. So, set your Graphic Settings reasonable for your PC. Build a mission for each map(or just one map). Don't change your settings or the missions during any tests so you can compare these results.

But here are my settings if you are curious. The pic shows my AA at 8x, but I have now set it to 2x and am using the MSAA + MFAA method talke about above for better FPS. I may change that in the future, but at least I have some options.. My triple-screen pc specs are in my signature. Cheers.

EDIT:
I HAVE UPDATED THE ANTIALIASING SECTION SEVERAL TIMES ON THIS THREAD TO REFLECT THINGS LEARNED IN THE DISCUSSION BELOW.

I'm no expert, but I did some simple things that I read about in different places on the forums.. I made a simple mission for each map and compared my fps. Here's what I found..

UnMod, Cleanup & Repair
Before to 2.5 Update I uninstalled all of my mods. After the update I ran the game a little, and then exited. I then ran "..\bin\dcs_updater.exe cleanup" from a command prompt in the game folder. Then I also ran "..\bin\dcs_updater.exe repair" the same way.

New Options.lua
I renamed my "Saved Games/Users/DCS/Congfig/options.lua" to a backup and ran the game to create a new options.lua. Then I compared the two files with the Notepad++ Compare Plugin. There were new settings in the new 2.5 options.lua, so I wanted to keep that one. Looking through the compared old file I copied over some of the settings just to keep much of what I had before.

Use your Video Card's AA
Then I ran the game to see if the AA was fixed, or if I still needed to set it in nVidia CP. Here's what I found:

With AA set in-Game to 8x:

NTTR: ~65fps

Caucasus: ~60fps

Normandy: ~55fps

With AA set in the nVidia Control Panel set to 8x:

NTTR: ~85fps

Caucasus: ~70fps

Normandy: ~65fps

So, I'm going to use the nVidia AA for the game!

ReBuild Shader Cache
But I was still getting better FPS in NTTR 2.2, so I read that you should delete you Shader cache? I never heard that before, but I renamed my "..\DCS\metaShaders" folder as a backup and ran the game again. I loaded a mission for each map to build the Shaders again. And ran my nVidia AA testes again. Here's what I got:

NTTR: ~100fps

Caucasus: ~98fps

Normandy: ~80fps

Not only did rebuilding the Shader Cache improve my FPS. But the game looks much more like Wags videos. I wish I had taken pics of the forests before. I had those lime green forests that some people have posted. And it did not look like Wags videos.

Also, turn off your Mirrors on the Options/Gameplay tab! That just makes them 'Off' by default in the cockpit. You can turn them on with the M key, and they eat 10+ fps!

I think this is some basic stuff that should have been posted with the download instructions.

I don't think my game settings matter that much. There are other guides for tweaking that. And this should just be a basic starting point to improve your graphics. So, set your Graphic Settings reasonable for your PC. Build a mission for each map(or just one map). Don't change your settings or the missions during any tests so you can compare these results.

But here are my settings if you are curious. My pc specs are in my signature. Cheers.

Hummm interesting since I have very similar rig 980 /same CPU/ and memory. 4K monitor.however I am not being able to set everything to look quite right specially with gamma and nVidia Control Panel ..in other hands I cant see my FPS using right ctrl /pause nothing shows..I heard about ctrl+pause/brake..which I dont know what that is..Brake?..anyway I am going to try all this meta/Shaders clean up this afternoon and see how it goes
Thank you for posting
Peter